Bobz Message from Verdad and my followup (it was so lengthy, I had trouble copying and pasting--hope I've got it all--please read carefully. This message can also be found at bobz.com):
Topic:
EVERYONE VERDAD WROTE THIS, BUT YOU ALL MUST
HAVE MISSED IT! (1 of 2), Read 51 times
Conf:
BOBz Forum
From:
INVESTIGATOR (cbays@whitworth.edu)
Date:
Sunday, May 03, 1998 10:54 PM
To Party Time, Flash and nearly all TRGC
investors.
From: Verdad
I would like to start by apologizing for my "salty"
language on the first message. I will try not to be
quite so passionate in the future,
Before I give you the really good news, I need
to tell all that I have known Sid Sers since
college. I have seen the highs, the lows, the
good and bad, and the ugly. I hate to disappoint
Flash, but I am not Sid Sers! However, I do
know exactly what is happening daily, both here
in Colombia and in the U.S. regarding TRGC.
In the interest of all, I need to correct a few
things.
The best direct E-mail to reach me on this
subject is verdad7@hotmail.com .
Party Time, regarding your reply #779, I could
not agree with you more in your assessment of
investor's feelings, however some of our
co-investors cross way over the line when they
threaten lives,make personal attacks not only
against Sid, but against eachother and spread
false rumors and rediculous "facts".
I believe that when an event happens such as the
collapse of Trinity stock and affects the future of
so many people, that the first reaction by many
is to look for a villain. Of Considering all of the
charges and allegations against Sid, he obviously
was the easiest and most available villain.
However, though Sid might be considered a
villain because of some of the actions, decisions
and statements that occured while he was CEO
of Trinity- let's face it, the opportunity to reap
tremendous profits would not have happened
without his vision and efforts.
I know a lot of you are saying "yes, I wish I
never heard of Trinity Gas and Sid Sers- keep
your profits and just give me back my money!".
To those investors, I can only say that I don't
blame you. For those of you that did not buy on
margin,(sorry Party Time), I can only say that
you will only suffer a real loss when you actually
sell your stock. If you are patient a little longer,
you will reap the rewards that you were
originally seeking when you first purchased your
Trinity stock. Very soon, all shareholders will
discover that there are much more deserving
VILLAINS in this tragic opera.
If this company however is going to be saved
and the shareholders are finally going to
REALLY proper for their faith in this venture,
then the vast majority are going to have to
START WORKING TOGETHER FOR A
COMMON GOAL and STOP these relentless
attacks against ANYONE who might have
different perspective.
A few other corrections, Flash;
1. I believe that perhaps Sid is more driven by a
fear of failure then by greed. He has been too
benevolent and philanthropic on many occasions
in the past to put greed at the top of the list.
2. Colombia is spelled with an "o", not a "u".
3. Sid's wife does not own a single share in
Trinity Colombia.
4. If this were a scam, which it is not, then Sid is
really not very good at it! Or else why would he
have left all of his money and assets vulnerable
to where they could be frozen?
5. Sid did not "... hit the road...", he
RETURNED to Colombia to drill wells three
and four in order to save the entire concession.
6. If most shareholders had read the
management summary concerning the the
original stock offering, they would have read a
half page, (PART X), that stated in no uncertain
terms that indeed Trinity Gas Colombia, Inc.
was just an "affiliate" of the "Company". The
information goes on to explain the Trinity Gas
Colombia contractual relationship with
Ecopetral and their interest respective interest
percentages in the venture, along with the profit
interest and responsibilities of Trinity U.S.A..
This same information was also available in even
greater detail on PAGE 5 of the Trinity Gas
Corporation Business Plan that was distibuted
for over TWO YEARS to all brokers, market
makers and potential investors. I'll bet that many
of you that have kept a complete Trinity file just
might be able to dig in there and find this
information that was never "hidden" as part of
any "scam".
I do know one thing, when Sid was ever
questioned by ANYONE about Trinity Gas
Colombia, he never denied that it was separate
and that he owned it.
I know for fact that Bill Ruth and Dick
Guilleman knew the truth from day one and
talked to dozens of investors and brokers daily.
They had plenty of chances to every single day
to tell the truth about the two Trinity co.'s.
Instead they waited until their friends and
relatives had a chance to dump their stock,
(along with most of theirs), in last Sept./Oct,
before they went to the S.E.C.. Does this smell
like INSIDER TRADING? to avoid a
tremendous loss? Don't you guys wish they had
called you before they went to the S.E.C.? They
also feel they have immunity from an SEC
investigation because of their "cooperation".
Let's face it, because of all the shares that Sid
has, he would be the last one to want the stock
to go into the toilet.
Later, probably next week, I will tell you the
real story about why Bill and Dick did what they
did to ruin so many lives and destroy the hopes
and dreams of the vast majority of investors
who risked everything they had on Trinity.
7. As far as Sid selling off "millions and millions"
of shares, you have to understand that 90 % of
those shares were 144 restricted stock sold @
.25 cents and @ .50 cents a share and being
restricted stock, it did not affect the price of the
free trading, over the counter stock. A large
majority of the free trading stock that he sold
was before the first well was drilled and much of
it went for less than $1.00. His son and daughter
sold some of their personal stock just like any
other shareholder in the country, as they had a
right to do.
Again, records will show that none of the sales
of any Sers' free trading stock had any affect on
the market price.
8. Sid paid $450,000.00 for the RESTRICTED
stock when he exercised his option that was
approved by 66% of the Trinity Board. The
bylaws were adhered to completely and the
quorum issue was not a question.
9. As far as the stock being @ $3.00 plus-that
is an irrelevant issue because the shares were
restricted and were not worth anywhere near
the market price. The SEC did not "stop" him
from selling shares at the time.
10. The issue of "...return to the shareholders..."
is a big one and I will save this for a later date
with a lot of history and detail. But if some of
you can find that PAGE5 of the TRGC Business
Plan and review it, the Colombian government
has 20% Net Revenue Interest and
ECOPETROL has a 50% working interest.
Ecopetrol will return to Trinity 50% of the
exploration cost of commercially productive
wells OR dry holes. All I can say is that the six
page agreement that Sid has already signed and
I have a copy of, gives Trinity USA the second
largest percentage return by far and there are
references in the contract concerning conversion
to limited partnership between the companies!
Even with the current stipulations and perimeters
of this agreement, the the return to Trinity
shareholders will be phenomenal if the
concession is anywhere close to it's potential.
None of us will be around to to benefit from
Sid's efforts if the TRUSTEE continues to to
deplete the cash on hand of TRGC. He is
spending fast and loose on attorneys and so
called professionals. He had nearly
$600,000.00 when he took control in January
and he has notified his personal so-called
"shareholders" committee that the lawyer bills
are $299,000.00 so far, with some billings not in
yet, with no end in sight. Apparently DENNIS
HEADKE, and the gang, are going to let him
spend all the cash and not pay the domestic
creditors, (approx. $163,000.00 of the
legitimate debt), sell off all the assets, let the oil
wells and domestic gas wells go back to the
land owners because he is refusing to pay the
royalties,(there is a 60 day grace period). I
would like to know if there are ANY
SHAREHOLDERS OUT THERE who are
willing and able to take charge of their own
destiny, instead of trying to "out-cute" each
other and bitch and whine on the internet.
I will soon put YOU IN TOUCH with some
enlightened investors that own millions of shares,
that they actually paid for. By joining forces for
a common goal, I think we might be able to to
get the attention of both Judges, the SEC, the
Trustee and even Sid.
11. As far as Sid "forsaking" everyone- I
watched him cry like a baby when he found out
his mother had died in February and would not
be able to go to the funeral. I watched him
choke choke up and not be able to to speak
when he realized he probably would not be able
to see his youngest son graduate from high
school this month. He has spent the "Cayman"
money on these last two wells in order to save
the concession and he is paying the past due
debts from the second well. He has every
intention of giving Trinity USA their FULL
interest in the first two wells and is working on a
plan to allow Trinity USA full participation in the
last two wells as future drilling. He wants
desperately for the drilling for the TRINITY
CORPORATION, THAT HE FOUNDED, to
survive and prosper along with all of those who
have kept the faith.
But, he is his own worst enemy when he is
attacked, through words, threats, court motions,
or trying to force unfair agreements down his
throat. He shoots from the hip constantly. He is
cantankerous, stubborn and says things that he
does not really mean half the time, just for the
effect and reaction that he gets from his
adversaries and associates. He has done it to
me many times, but I just laugh and try to
understand how badly he really is hurting inside.
Four months away from his family, all because
his wife tried to pay college tuition for two of
their childre and pay household bills with
cashiers checks that were his own money. The
court now allows $5,000.00 per month for
expenses, but that did not start until March...
after their car was towed away from the front of
their house. What a terrible way to have to live.
As far as I'm concerned, if he "pulls this off" and
makes all the investors wealthy, then he
deserves whatever wealth and happiness that
God will allow him. His entire family has
constantly been targeted with slanderous
accusations. The three children that are
attending school have suffered both emotionally
and in the classroom. Sid's wife Patricia has a
devotion to her children and Sid, without
parallel. She stays stressed and emotionally
drained daily, only her Christian lifestyle and her
constant prayers to her Lord Savior, has
allowed her to survive. One thing I can assure
you about Sid Sers, is that above all things,
except for his God and Lord and Savior Jesus
Christ, he loves wife and children. Forget the
success, forget the money, when it comes to his
family, there is nothing more important or sacred
to him and that includes his estranged eldest son
Matt, who has suffered a severe case of mind
poisoning @ the hands of Bill Ruth. He is so
proud of Matt's success in business and his
personal life. Matt is a fiercely independent
young man, he has a tremendous IQ and is
extremely stubborn, all traits that Sid feels are
definately genetic in origin.
Sid made a great many errors in judgement
while he was CEO of Trinity Corporation . He
co-mingled funds, just as he always had in his
other non-public companies. When the
company needed funds to pay bills or for certain
projects, he would supply his personal cash or
stocks, (WHICH I KNOW THAT FLASH
HAS PERSONAL KNOWLEDGE OF THIS
TO BE SO...), to save the company.
Conversely, when he needed some short term
help he conveniently borrowed from the
company, as he had always done as well prior.
He never tried to hide the transactions and he
justified it knowing that the company owed him
more than he was recieving. The current audit
actually shows this to be true. Sid figured that it
would be straightened out through the
accountants. This was very bad business
practice and very frustrating for some
employees, but Sid was an
entrepreneur/wildcatter/petroleum
geologist----not a by-the-book businessman.
Some of the things he did with corporate assets
and some of the emotion -driven decisions he
made were just plain stupid, but the audits
PROVE that he is neither a crook, nor a
con-man.
He went to Colombia bare bones, with just a
dream, not knowing the language and only
fellow local Christians for contracts. He now has
political and business friends and associates, a
well run organized company and has FINALLY
learned the value of accountants and audits, and
maintaining proper records. With the qualified
management in place, in Colombia and a NEW
WELL MANAGED Trinity USA, BOTH
companies have the potential to be
multi-billion----yes----with a " B ", companies. I
know with the current situation a lot of you are
probably thinking that "lunatic" Verdad is
showing that he has really lost it, but I am privy
to information that proves that this is a definite
possibility and will be a certainty, if we can get
past the current situation.
Concerning the "current situation" of TRGC, this
might be a good time to briefly mention the latest
report by the TRUSTEE , Henry C. Seals, (no
George- I am sure the "C" does not stand for
corrupt), I am sure that all shareholders and
"parties of interest" will receive a copy of his
report. I am sure that "Mr. Negative" will post it
on The Net---notice the terms "...Sers fled the
country"--NOT TRUE, dates were wrong
concerning court actions and motions. On page
3 he says the freeze order was entered on Dec.
9, 1997, then on page 7, he says the freeze
order was entered on Dec.6, 1997. He first tells
you that the assets of the estate "have little
value", then "limited value", then on page 8 he
says that "Nova does have certain value for the
estate". Then on page 9, he tells you that
Sampson Robbins and Assoc. accounting firm,
were "forced" to resign when NOTHING could
be further from the truth. After receiving OVER
$122,000.00 from Trinity, they were not even
close to to finishing the audit. They gave Trinity
a list of 17 items they needed to finish, some of
which had to come from Colombia. The Trinity
management told them they would begin
immediately to furnish the information. Sampson
Robbins then issued their UNFORCED letter of
resignation four days later WITHOUT recourse.
They should be sued by hundreds of
shareholders for the damage that has occured!
It's awful strange that on page 13, the Trustee
states that "no progress has been made and no
material information has been furnished to the
Trustee by Sers". However, he FAILS to
mention the days that Sid spent with the
Trustee's expert in Cali, Colombia visiting well
sites, reviewing all the data and answering
questions. The funds that he talks about being
improperly removed belonged to Sid's daughter
from the sale of stock that she had owned since
1993. The only "flight" to Colombia that he took
was American Airlines... Let's face it, if 'ole
Henry' REALLY wanted to negotiate with Sid
and settle this mess, he and his attorneys would
NOT constantly make inflammatory remarks
and would stop draining the corporate cash for
frivilous lawsuits, motions and depositions that
are only enriching the lawyers, while blocking a
meaningful settlement of the issues.
He tells you and the court how much cash he
had in the beginning, but how much was was
received from the sale of assets? How much has
been spent? What is the balance? How much is
going into his pocket? Etc., Etc., Etc.. You will
notice that NONE of these questions are
answered in his report. The creditors and
shareholders are to be noticed BEFORE the
sale of any assets---how many of you received
notification? He has made arbitrary decisions
about the value of assets with consultation from
ONLY HIS PAID professionals. He and his
"meter running" lawyers are obsessed with
destroying Sid Sers and they are going to
destroy Trinity USA while they are at it, unless
we, the shareholders, join together NOW, in a
REAL show of solidarity and get the attention of
the U.S. TRUSTEES' Office AND the
Bankruptcy Court Judge John Akard, in
Lubbock, Texas! This Judge is one the best in
the USA, he is fair and just and if something
makes sense, he will make it happen and if a
Trustee is corrupt, or fails to perform his duties
properly, he will deal with them----look out
Henry--- it's time for YOU to "do the right
thing...".
We now have a 1996 audit complete that
should be able to stand up to review by one of
the top five accounting firms and also we
already have a head start on 1997, if the Trustee
will bother to examine it and accept it for 1996.
We have an 11 million dollar loss carry forward
and you business people know how valueable
that is--- it will also help boost future profits for
shareholders. We also have a 1996 ARTHUR
ANDERSON audit for Trinity Colombia and
the 1997 audit will be finished next week. Both
audits will wake up a lot of shareholders and the
SEC, who have been wondering where all the
money went. When you include the months of
1998, you will soon see the actual cost of the
four- well package is pretty close to the original
estimate and all the receipts are there.
This last part is for ole' " MIXER", who said
"Sid's drilled four already and hasn't cased an
inch!". From this "raving lunatic Verdad", ---
ALL FOUR WELLS have been cased to the
basement and cemented in place, including the
10,396 foot number two well. And if everything
goes as planned, ALL FOUR WELLS will be
perforated and have GAS FLOWING in the
next ten days! The best "data" you can have is
gas and oil flowing from the pipe!
And after MR. HEADKE'S asinine, ludicrous
drilling cost comparison, that he included in his
latest message from the "committee", you'd
better PRAY and I mean pray that he does
NOT team up with DARIO VALENCIA, who
kept Ecopetrol upset constantly with the late
daily reports and NOT filing others timely,
among various other complaints.
The BEST THING that can happen at this time
for ALL of us, is for the TRUSTEE TO
VERIFY, EXECUTE AND CERTIFY the
CONTRACTUAL AGREEMENT between
TRINITY USA and TRINITY COLOMBIA.
SO, that when the gas starts flowing, and it will,
an INCOME STREAM will begin flowing
BACK to Trinity USA and the
SHAREHOLDERS!. I STILL believe that the
Lord has not brought us this far only to fail.
STAY TUNED, I will be back soon, keep the
faith, keep praying and remember always, that
the truth
STAY TUNED, I will be back soon, keep
praying and remember always, "the truth will set
you free".
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Topic:
EVERYONE VERDAD WROTE THIS, BUT YOU ALL MUST
HAVE MISSED IT! (2 of 2), Read 35 times
Conf:
BOBz Forum
From:
PartyTime (mweddle752@aol.com)
Date:
Monday, May 04, 1998 06:31 AM
Thank you, INVESTIGATOR. What you have written, in my view,
appears genuine and thoughtful. My only wish is that we could have
received this information at a much earlier date.
My primary comment is: How can I and other investors be helpful?
It's always been my position that Sid--no matter how great the
confusion--should be allowed to complete his work. I'm pleased to note
he's done this and that he seems to have complied with the drilling
conditions as set forth by Ecopetrol.
My hope is that the '96 and '97 audits, together with motions in the
bankruptcy proceedings, will help him regain control of Trinity-USA.
Personally, I would like to see the original plan put back into play.
Much has been learned, on all sides, from this whole ordeal. A new
business structure consistent with the original plan, to me, seems the
only sensible way of solving the problem.
I encourage all parties to come to the table and work out the
agreements as soon as is humanly possible. After all, initiating gas
pumping operations in 10 days should be an inspiration for something
good--don't you think?
Please convey to Sid that I'm pulling for him and that I would love to
see this boat of confusion maneuvered away from this sea of
uncertainty.
Once again, thank you. I look forward to learning more. |
